Search Site

Trends banner

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

NEOM and Volocopter conduct successful flight trials of air taxis

NEOM had previously announced a partnership with Volocopter to develop vertical mobility solutions and entered into a $175 million investment in the company. (SPA)
  • The project is the result of an 18-month partnership between NEOM, the General Civil Aviation Authority (GCAA), and Volocopter.
  • The flight trials mark the first ever testing of an electric and zero-emission urban air mobility (UAM) system in Kingdom's futuristic city.

Riyadh, Saudi Arabia — NEOM and Volocopter have announced a series of successful flight trials of electric vertical vehicles (eVTOL), commonly known as air taxis, marking the first ever testing of an electric and zero-emission urban air mobility (UAM) system in Kingdom’s futuristic city.

The project, a result of an 18-month partnership between NEOM, the General Civil Aviation Authority (GCAA), and Volocopter, focused on building and assessing the performance of the Volocopters in the local atmosphere and diverse climatic conditions of the Kingdom.

Moreover, it sought to gauge their integration with the local drone traffic management system (UTM) and ensure the highest safety standards throughout the testing period.

NEOM had previously announced a $175 million investment in Volocopter, which is on track to receive certification for its Volosity air taxi by 2024 and has recently commenced mass production of the vehicle at its facilities in Prochsal, Germany, with an annual production capacity exceeding 50 units.

Abdulaziz Al-Duailej, President of GCAA, said, “The success of this safe test flight represents an important turning point in the journey of the Saudi aviation sector, and another step towards achieving its strategy, by innovating and employing the latest technologies to create new industries that contribute to the GDP and provide more jobs.”

NEOM’s CEO Nadhmi Al Nasr described the successful flight trials a “testament to NEOM’s role as a global accelerator and incubator for innovative solutions to pressing global challenges”.

Christian Bauer, Chief Commercial Officer of Volocopter, emphasized the potential of eVTOL electric volocopters to contribute significantly to the creation of an intelligent, sustainable, and multimodal mobility system in NEOM, powered entirely by solar and wind energy.